A Big Play for Sports & the Fed’s Wait-and-See Strategy 02/07/24

Squawk Pod

CNBC

Investing, Business News, News, Business

4.2 • 543 Ratings

🗓️ 7 February 2024

⏱️ 35 minutes

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Summary

Disney-owned ESPN, Warner Bros. Discovery, and Fox are launching a joint sports streaming platform this year, with each party owning a third of the newly formed company. Sports entrepreneur and Kevin Durant’s long-time agent Rich Kleiman says he likes the media move, for sports and for athletes, although many factors–like the cost for consumers and the name of the venture–are still unknown. Plus, in his latest essay, Minneapolis Fed President Neel Kashkari is reading the economy’s mixed signals. In his interview with Joe Kernen, Becky Quick, and Andrew Ross Sorkin, he’s calling the U.S. economy “remarkably resilient,” but he and his colleagues at the central bank are holding out for more positive economic data before making a decision to cut interest rates. Neel Kashkari - 15:28 Rich Kleiman - 29:02 In this episode: Rich Kleiman, @richkleiman Neel Kashkari, @neelkashkari Joe Kernen, @JoeSquawk Becky Quick, @BeckyQuick Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:04.0	Hi, I'm C. NBC producer Katie Kramer, today on Squawk Pod.
0:08.0	A big play for sports streaming.
0:11.0	Fox, Warner Brothers Discovery and Disney are all teeming up.
0:15.0	The perfect world is where I can watch every single game that I want to see,
0:19.0	and I still don't have that.
0:20.0	This gets you much closer.
0:22.0	What this partnership means for fans and how they watch
0:24.9	with sports entrepreneur rich climate. It's obviously in reaction to what we know
0:29.5	is inevitable with cable long term but there's still a lot of questions to be answered.
0:34.0	Big questions like how much will it cost and what will they call it?
0:38.0	Who do you pay to come up with the name?
0:40.0	A consultant and how much does it cost?
0:43.0	5 million dollars.
0:44.0	99 and you go on to chat gee.
0:47.0	That big sports story today,
0:51.0	plus Minneapolis Fed President Neil Kashkari is reading the economy's
0:54.8	signals. It's good news, but the Fed is playing wait and see.
0:59.2	The economy is showing up to be remarkably resilient. Consumer spending is staying strong.
1:03.5	The labor market is staying strong,
1:05.2	as evidenced by their really strong jobs report on Friday.
1:08.7	It's Wednesday, February 7, 2024.
	...

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